Christie: NJ Might Not Make Next Pension Payment
New Jersey Gov. Chris Christie says the
state might not be able to make a half-billion dollar contribution
to the public worker pension system next year, as a new law
requires.
State Treasurer Andrew Eristoff had said this week that New
Jersey would make the $512 million contribution next July. But
Christie said yesterday that the state will make the required
payment if it has the money to do so. If not, he said, the law
might be overridden in next year's budget.
The Republican governor signed legislation in March requiring
the state to begin paying its full share into the pension system
after a seven-year phase-in.
The fund pays pensions to government workers, teachers and
police and firefighters.
Copyright 2010 by The Associated Press. All Rights Reserved.
|
E-Mail
Print
Good Time Oldies
